The remittance inflow dropped by 15.11 per cent in the just concluding fiscal year amid the ongoing fluctuation in the US dollar exchange rate between banks and the kerb market.
Expatriate Bangladeshis remitted $21.03 billion in the 2021-22 fiscal year, down from $24.77 billion in 2020-21 fiscal year, as per the latest data from the Bangladesh Bank.
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Industry insiders said the remittance earnings have decreased since expatriates now opt for illegal channels, such as hundi, to send money home as the gap of the exchange rate of the American greenback between banks and the kerb market has widened further.
